PBG intrinsic value, page-4

From what I can tell from the recent divestment announcements PBG should have close to zero debt. There will be some pressure on margins but I think their cost actions will help mitigate the margin decline due to A$. I expect a div of some kind just to reward shareholders and let the market know that they are in the road to recovery and growth. I expect they will have an EBITDA of around $50 mil so should quite comfortably be able to pay 2 to 3 cents div at end of year. Continuation of sales growth in core brands should see the SP up to 70 cents.